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    Bank of Ireland Update on Bank of Ireland staff who lost trackers

    BOI always denied the staff claims so something has changed that these are now being sent to the FSO. I expect that means the central bank agrees with BOI. Will the FSO contradict that view. Unlikely in my opinion.
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    Bank of Ireland Update on Bank of Ireland staff who lost trackers

    The only thing that matters in this review is what the Central Bank think. Have they ruled on one of these cases yet? They must have seen one by now.
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    Some borrowers have only themselves to blame for losing their trackers

    Hi Brendan, I would counter argue that the MFA was not clear, unambiguous and did not explain the possible consequences of giving up a tracker. That is for central bank review to decide. The other point I made is that the roll-to rate on all the staff mortgages in October 2008 was to staff...
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    Some borrowers have only themselves to blame for losing their trackers

    Hi Brendan, In October 2008 the bank put up a message on the internal website that all staff accounts on the fixed rate would roll to the tracker as per original loan agreement. At that point regardless of any contracts, wording, misunderstandings, or any other factors prior to that the bank...
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    Padraig Kissane presenting to the Oireachtas Finance Committee next Tuesday, 21st

    I think to speed the process up the central bank should order that all mortgages still under investigation be put on a tracker rate until the review is complete. This should be at the banks expense even if the mortgage is subsequently denied a tracker and returned to another rate. You would be...
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    Padraig Kissane presenting to the Oireachtas Finance Committee next Tuesday, 21st

    Padraic said he is not taking BOI staff as clients for the simple reason that it may affect their employment. He said the cases were on his shoulders. I got the impression he is fighting the case without paying clients. He did go on to explain how he was dealing with a staff tracker issue and...
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    Padraig Kissane presenting to the Oireachtas Finance Committee next Tuesday, 21st

    Much respect to you Padraic for standing up and being counted. Without your perseverance this would have been brushed under the carpet long ago. Best of luck tomorrow.
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    Bank of Ireland Bank of Ireland Staff- Lost Tracker

    Hi Sarenco, they are all fair points. Obviously I am not entirely impartial in this. But to answer your questions. The wording on the 2 MFAs is wrong in that both refer to moving from a fixed rate to either staff variable or to fixed but at the time of signing either we weren't moving from...
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    Bank of Ireland Bank of Ireland Staff- Lost Tracker

    That is first MFA when switching to the staff variable rate. NB. The wording is wrong on both MFAs The second MFA when switching to fixed states that IF converting to tracker at the end of the fixed rate period how the rate would be determined etc Any person reading that MFA could reasonably...
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    Bank of Ireland Bank of Ireland Staff- Lost Tracker

    There was no stated roll off rate or declaration that by moving to a staff rate that a tracker would no longer be available. The only rate declared to be not available in future was a special staff rate of 3%. There was a special staff rate of 4% that was declared staff could return to. Trackers...
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    Bank of Ireland Bank of Ireland Staff- Lost Tracker

    Just like a fixed rate doesn't track the ECB rate.
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    Bank of Ireland Bank of Ireland Staff- Lost Tracker

    I would agree. I would doubt BOI deliberately started out to do this. This makes the situation even worse. Through incompetence they sold a product without understanding it could bring down the bank or at least cost them a fortune. Despite paying a CEO 2 million a year they didn't understand...
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    Bank of Ireland Bank of Ireland Staff- Lost Tracker

    Here is a list of things discussed on this forum or are common knowledge:- 1. We were not informed of the implications of giving up a tracker 2. The MFA signed to move from tracker to variable, and variable to fixed were both incorrectly worded 3. Internal website informing staff that they...
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    BOI Tracker Mortgage Issue - what next?

    I am not sure it is that clear cut. If you look at the thread "Bank of Ireland staff - lost tracker" there are 1800 staff (including me)who signed MFA's to switch to a staff variable rate after 1st August 2006. There were no warnings given on these yet it appears those trackers will not be...
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    Bank of Ireland Bank of Ireland Staff- Lost Tracker

    I think that 1800 staff / ex-staff acting together through a solicitor / financial advisor makes sense. I don't think class actions are permitted here so one persons case would need to be taken to the high court. Would the 6 year statute of limitations come into play here though? I would also...
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    Bank of Ireland Bank of Ireland Staff- Lost Tracker

    I thought that one of the reasons the current tracker review was taking place is that the current FSO did not agree with a lot of his predecessors findings. I also don't believe the wording above fully took into consideration the consumer protection regulations on notifying customers on the...
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    Bank of Ireland Bank of Ireland Staff- Lost Tracker

    It seems clear to me the staff aren't getting the trackers back but we don't know on what grounds they are being rejected. If an estimated 1800 staff / ex-staff are affected yet no one has got a letter and BOI are declaring only 602 accounts affected its the only conclusion to draw from it...
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    Bank of Ireland Bank of Ireland Staff- Lost Tracker

    Have any BOI staff at all received a letter? If not I think we can assume none of us are getting one. The BOI tracker helpline can offer no information at all, which I suspect is confirmation we are not included. I also expect, by current form, we will be fobbed off until the middle of 2017...
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    Bank of Ireland identifies 602 customers who lost their tracker incorrectly

    I rang the number above yesterday to find out the situation with my account. They went through the whole process of checking my name, verifying other account holders details etc and then, guess what, they can't tell me anything except the review is still ongoing until 2017. Why have BOI gone to...
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    The Oireachtas Finance Committee asked Boucher no questions on tracker redress programme yesterday.

    I noticed that too. There appears to be a lot of conflicting information at the moment on the BOI review. I have seen on this forum that at least 1 person has had a BOI tracker restored - while others (including me) have rang BOI and been told no one will be contacted until the review is...
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